Black Rice Market Size, Trends, Share, Growth, and Opportunity Forecast, 2024 - 2031 Global Industry Analysis By Type (Indonesian Black Rice, Philippine Balatinaw Black Rice, Thai Jasmine Black Rice, Others), By Nature (Organic, and Conventional), By End-use (Household, Commercial), By Sales Channel (Grocery Stores, Specialty Stores, Foodservice, Convenience Stores, Online Retailing, and Others) and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

Black Rice Market Size and Forecast 2024 to 2031

The Global Black Rice Market was valued at USD 190.4 Million in 2023 and is anticipated to reach a value of USD 293.7 Million by 2031 expanding at a CAGR of 5.6% between 2024 and 2031.

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Black rice is also known as purple rice or forbidden rice, is a wholegrain rice with a dark purple or black color known for its high level of antioxidants. Black rice is recognized for its rich nutrient profile. It is not only nutritious but also economical which drives its significant market expansion. Black rice is also a good source of iron and several nutrients. Black rice originates in Asia, especially in the regions of China, Indonesia, and Thailand. Based on type, the market for black rice is classified into Indonesian Black Rice, Philippine Balatinaw Black Rice, Thai Jasmine Black Rice, Others. Black rice has a rich cultural history; called "Forbidden”, and has gained global recognition for its nutritional benefits and unique flavor profile. The market for black rice is influenced by factors such as rising demand in the food & beverage industry, increasing health awareness, changing consumer trends, and versatility in diverse culinary applications.

Black Rice Market Major Driving Forces

Rising Demand in the Food & Beverage Industry: The market is being driven by an increasing demand for black rice in the food and beverage industry. In food and beverages industry, black rice is increasingly featured in gourmet and health-conscious products.

Increasing Health Awareness: The growing awareness about health benefits of black rice is another significant factor boosting demand for black rice. Black rice is high in demand because of its many potential health benefits such as eye health, rich in antioxidants, fiber, protein, iron and suitable option for individuals with diabetes.  

Changing Consumer Trends: The market is being driven by the growing consumer trend towards plant-based meals and ingredients. Number of health-conscious consumers are seeking for nutritious and functional foods is boosting demand for black rice.

Versatility in Diverse Culinary Applications: Another major market driver is the versatility of black rice in diverse culinary applications. Black rice is increasingly featured in both traditional and innovative fusion cuisines, owing to its unique texture, deep hue, and nutty flavor. 

Black Rice Market Key Opportunities

Demand for Organic and Natural Foods: The increasing demand for organic and natural foods presents an opportunity for the black rice market expansion. With growing concerns about chemical pesticides, there is an increasing preference for organic food products. Black rice is commonly grown using organic farming methods, which can attract environmentally conscious consumers.  

Online Retail and E-commerce Growth: The rise of online retail and e-commerce platforms provides significant opportunity for black rice manufacturers to expand their reach and tap into a broader customer base. Digital platforms offer a broader reach, and facilitates a wider distribution. Online sales channels allow for easier product accessibility and global market penetration.

Growing Popularity of Vegan Diets: The rising popularity of plant-based and vegan diets offers an opportunity for market expansion. There has been a considerable rise in vegan population across the globe which is anticipated to drive the demand for plant-based nutritional products.  The demand for natural plant-based diets has increased owing to increased awareness about health.

Black Rice Market Key Trends

·         The global trend towards sustainable and eco-friendly farming practices is gaining traction in the industry

·         Rising demand for functional foods and superfoods is a significant factor driving demand for black rice

·         Growing popularity of plant-based and vegan diets is boosting demand for alternative grains such as black rice

·         An increasing demand for ready-to-eat and easy-to-cook black rice products such as black rice flour, pasta, noodles, and snacks

·         The rise of e-commerce and online platforms is playing a major role in expanding the availability of black rice

·         The growing number of health-conscious consumers seeking nutritious and functional foods is influencing demand for black rice

·         Increased consumer demand for transparency in food sourcing and production has led to a greater emphasis on food traceability

Region-wise Market Insights

Asia Pacific accounted for the largest market share at 39.1% in 2023 whereas, North America is expected to register the fastest growth, expanding at a CAGR of 6.0% between 2024 and 2031.

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In Asia-Pacific, the market is characterized by burgeoning middle class, increasing demand for traditional and exotic foods, growing awareness of black rice potential in health and wellness, government support, and rising disposable incomes which has created an increasing demand for black rice. Additionally, changing consumer preferences, cultural significance, and economic development drives regional growth in Asia Pacific region. In North America, the demand is driven by a shifting trends towards plant-based nutrition, rising popularity of vegan diets, strong health-conscious consumer base, and rapid growth of retail and food services. In Europe, the market is growing due to increasing consumer awareness about health and wellness, and rising demand for organic and sustainable products. The Middle East and Africa has been witnessing a growing demand for black rice due to an increasing demand for premium and organic food products whereas, in South America, the market is influenced by economic factors, with cultural preference, increasing awareness of its health benefits, and health-conscious consumers.

Market Competition Landscape

The global black rice market is characterized by high degree of competition among a large number of manufacturers. Key players in the black rice market engage in strategies aimed at gaining a competitive edge. These strategies include product innovation, design differentiation, and the incorporation of sustainable and eco-friendly farming methods to meet evolving consumer preferences. Established brands leverage their reputation for quality and reliability to maintain market share, while newer entrants focus on disruptive innovations and unique selling propositions.

Key players in the global black rice market implement various organic and inorganic strategies to strengthen and improve their market positioning. Prominent players in the market include:

·         Cargill, Incorporated

·         Lotus Food Inc.

·         Pristine

·         The Natural Rice Co.

·         ADM

·         Royal Nut Company

·         PraTithi Organic Foods

·         Greenpower Nanohana co.ltd.

·         Monsoon Valley Agro Exports

·         Shiyue Daotian Group

·         Zhejiang Wufangzhai Industry Co.,Ltd.

·         Lundberg Family Farms

·         High Hope Foods

·         Riviana Foods Inc.